Sequoia Capital is leading a Rs.50 crore investment in Bangalore-based banking data analytics software and services startup iCreate Software. iCreate plans to use the funds to expand its product portfolio and enter new geographies. The firm had earlier raised funding of Rs.15 crore from IDG Ventures, which also participated in this round.
Founded by Anup Pai in 2006, iCreate has developed business intelligence products for various banks including Bank of America, Gulf Investment Corporation, Indonesia's Bank Mandiri and HDFC Bank.
From the Venture Intelligence PE Deal database: iCreate had raised $3.3 M from IDG Ventures in Dec-09. It raised another round of funding from IDG in Apr-12.
Venture Intelligence is the leading provider of data and analysis on private equity, venture capital and M&A transactions in India as well as Financials & Valuations of Private Companies in the country. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.